ATM transaction charges changed: Kotak Mahindra Bank has announced that it will increase the charges levied on ATM transactions. These changes will come into effect from May 1, 2025 and will affect customers who have exceeded their free transaction limit, whether they transact from Kotak ATMs or ATMs of any other bank. The bank said, “From May 1, 2025, the charges levied on transactions made beyond the free limit at Kotak and other banks’ ATMs will be changed.”
Now you will have to pay Rs 23 for withdrawing money
Till now, customers were charged Rs 21 per transaction for cash withdrawal from ATM. From May 1, it will increase to Rs 23 per transaction.
For non-financial transactions like balance inquiry or mini statement, Rs 8.5 was earlier charged, which will now be Rs 10 per transaction.
Current limits will remain the same
The bank has also clarified that for customers who get free transaction limits as per their account type or program, these limits will remain applicable as before. The changes will be applicable only when the free limit is exceeded. If you are a Kotak Bank customer, it will be beneficial to plan your transactions according to your account’s free limit and requirement before May 1.
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